MBA Newslinks Archive

“We look for existing home sales to rise roughly 4 percent by year-end 2016 as low mortgage rates and strengthening employment conditions are likely to support sales in the coming quarters.”
–Mark Vitner, Senior Economist with Wells Fargo Securities, Charlotte, N.C.

“Conventional loan applications were up slightly this week while rates showed little change. However, although incoming economic data were muddled and the retail sales report was relatively weak, rates and stock markets rose through the week.”
–MBA Chief Economist Mike Fratantoni 

“The spring housing market appears to be on solid ground amid continually improving labor market and rising home sales. Psychologically and economically, people prefer to buy homes when prices are rising than when they are falling, so a continued recovery of home prices is encouraging to both first-time and trade-up buyers.”
–Yanling Mayer, housing economist and director of research with FNC, Oxford, Miss.

“Non-foreclosure solutions outpaced foreclosure sales by more than a three to one margin in the month of February. This has been a fairly steady trend for the past year and illustrates the availability of various long-term and short-term solutions that benefit homeowners.
–HOPE NOW Executive Director Erik Selk.

“FHFA has a difficult challenge in trying to help underwater homeowners in some of the markets that are still struggling, as they need to balance the moral hazard risk, identify loans that do not add risk to the GSEs or the communities involved, and focus on borrowers that will have the best chance to stay current. FHFA’s program design attempts to mitigate some of these concerns and the result is a narrow focus on lower loan balance and severely delinquent mortgages.”–Mortgage Bankers Association President and CEO David Stevens, CMB, on the Federal Housing Finance Agency’s announcement of a targeted principal reduction program for some mortgage borrowers.

“Rising prices for existing homes and a strong job market are making the math work for new construction.”–MBA Vice President of Research and Economics Lynn Fisher.

“We gather today at a time of tremendous momentum. Unemployment has cut in half since 2009. And the housing market has served as key part of this.”
–HUD Secretary Julian Castro.

“Banking resources are being tied up with regulatory compliance issues, so there’s not a lot of money left to invest in paperless technology or to train staff. I think we will continue to see growth in paperless mortgages but it will take quite a while before it becomes this standard operating procedure.”–Brent Chandler, founder and CEO of FormFree Holdings Corp., Athens, Ga.

“In 2015, commercial and multifamily real estate borrowing and lending came within a whisker of the record-high level of 2007.” –Mortgage Bankers Association Vice President of Commercial/Multifamily Research Jamie Woodwell.

“Clarity will facilitate efficient compliance, reduce implementation costs and ensure consistent consumer treatment across the market.”–MBA Senior Vice President of Legislative and Political Affairs Bill Killmer in a letter to the Senate Banking Committee seeking clear “rules of the road” from the Consumer Financial Protection Bureau.